Disposal

Fuller,Smith&Turner PLC
07 July 2003



7 July 2003

                          FULLER SMITH & TURNER P.L.C.

                          SALE OF PILGRIMS REST HOTEL


Fuller, Smith & Turner PLC today announces the sale of The Pilgrims Rest Hotel
and Pub in Ashford, Kent for an undisclosed sum to Shepherd Neame PLC. The
consideration is being satisfied in cash upon completion and will be used to
reinvest in the business.

The sale of the hotel fits Fuller's strategy to focus its hotel operations
within its current trading area, which will be enhanced by the opening of the 
55 bedroom Red Lion Hotel in Hillingdon, West London, in the summer of 2004.

The sale will not have a material effect on current year earnings and is at a
modest premium to the current net book value of the property.

Fuller's wish to thank the management team at the Pilgrims Rest for their
professionalism and dedication in creating such a friendly, welcoming
atmosphere. The team will now transfer to Shepherd Neame under Transfer of
Undertakings (Protection of Employment) ("TUPE") regulations.


                                - Ends -


For further information:

Fuller's Press Office                          Tel. [phone]

Paul Downes/Vanessa Maydon                     Tel: [phone]
Merlin Financial










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